Compare IC Markets and IG, two leading brokers. Discover differences in regulation, trading platforms, fees, and trading instruments to find your best fit.
Both IC Markets and IG are among the top brokers in the Forex and CFD trading industry. They offer a wide range of instruments, competitive pricing, and advanced trading platforms, making them popular among retail and professional traders alike. However, there are key differences in their offerings that may suit different types of traders. In this detailed comparison of IC Markets vs IG, we’ll break down various aspects such as regulation, trading platforms, fees, and more to help you decide which broker best fits your trading needs.
Regulation and Trustworthiness
IC Markets: IC Markets is a highly regulated broker, operating under licenses from the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and the Cyprus Securities and Exchange Commission (CySEC). IC Markets is known for its transparency, adherence to strict regulatory standards, and secure handling of client funds, which are held in segregated accounts. The broker’s strong regulatory framework makes it a trusted choice for traders globally.
IG: IG is one of the most well-regulated brokers in the world, with licenses from several top-tier regulators, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Commodity Futures Trading Commission (CFTC) in the US. IG’s regulation in the United States makes it one of the few brokers accessible to US-based traders. IG’s extensive regulatory oversight provides a high level of security and trust for traders worldwide.
Verdict: Both IC Markets and IG are highly regulated, but IG’s broader regulatory reach, including licenses from the CFTC and FCA, gives it an edge in terms of global regulatory presence. IC Markets is still a trusted broker with strong regulation, but IG’s regulation in the US and Europe provides additional reassurance, particularly for traders based in these regions.
Trading Platforms
IC Markets: IC Markets offers a wide variety of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. MT4 and MT5 are renowned for their advanced charting tools, technical analysis features, and support for automated trading through Expert Advisors (EAs). cTrader is preferred by many professional traders for its low-latency execution and customizable interface. IC Markets provides these platforms across desktop, web, and mobile, ensuring that traders can access the market from any device.
IG: IG offers its proprietary trading platform, which is intuitive and feature-rich, providing advanced charting tools, technical analysis, and risk management features. In addition to its proprietary platform, IG supports MetaTrader 4 (MT4), giving traders the flexibility to choose between one of the most popular platforms in the world or IG’s in-house solution. The platform is available on desktop, web, and mobile, and traders can also access ProRealTime and L2 Dealer for direct market access (DMA) trading.
Verdict: When comparing IC Markets vs IG in terms of platform options, both brokers provide excellent choices. IC Markets has the edge for traders who prefer MetaTrader 5 (MT5) and cTrader, which are not available on IG. However, IG’s proprietary platform is highly intuitive and suitable for traders who want an all-in-one platform, especially those interested in direct market access (DMA) through L2 Dealer. Traders who prioritize platform variety may lean toward IC Markets, while those who prefer a proprietary platform may favor IG.
Trading Instruments
IC Markets: IC Markets offers access to over 230 instruments, including Forex, indices, commodities, cryptocurrencies, and shares (via CFDs). The broker is particularly strong in Forex, providing over 60 currency pairs, covering majors, minors, and exotics. In addition to Forex, IC Markets offers popular commodities such as gold and oil, global indices, and a growing selection of cryptocurrencies, making it a versatile choice for traders looking to diversify their portfolios.
IG: IG provides one of the largest ranges of instruments in the industry, offering access to over 17,000 markets. This includes Forex, indices, commodities, stocks, ETFs, options, bonds, and cryptocurrencies. IG’s extensive selection of trading instruments, particularly in stocks and options, makes it a popular choice for traders who want to diversify beyond Forex and into other financial markets.
Verdict: IG has a clear advantage in terms of the range of trading instruments, offering access to over 17,000 markets compared to IC Markets’ 230+ instruments. While IC Markets offers a strong range of Forex pairs and popular asset classes, IG’s offering is unparalleled, making it the better choice for traders who want access to a broader range of financial markets, including stocks and options.
Spreads and Fees
IC Markets: IC Markets is known for its tight spreads, particularly on its Raw Spread account, which offers spreads starting from 0.0 pips with a small commission per trade. The IC Markets Standard account is commission-free and has spreads starting from 1.0 pips. IC Markets’ raw spread model is ideal for scalpers and high-frequency traders who prioritize low trading costs. Additionally, IC Markets does not charge fees for deposits or withdrawals, and there are no inactivity fees.
IG: IG offers competitive spreads across its markets, with spreads on Forex starting from 0.6 pips on major pairs. IG’s fee structure is transparent, with no commission fees on most trades. However, for stock CFDs and DMA accounts, IG charges a commission fee. IG does not charge fees for most deposits or withdrawals, but there is an inactivity fee after two years of no trading activity. IG's fees is competitive, though it may not match the raw spread accounts offered by IC Markets for traders seeking the lowest possible spreads.
Verdict: IC Markets has the edge in terms of spreads and fees, particularly for traders who prioritize raw spreads and low-cost trading. Its Raw Spread account offers some of the tightest spreads in the industry, making it ideal for active traders and scalpers. IG’s spreads are competitive, but traders focused on minimizing costs for Forex trading may find IC Markets’ raw spread model more attractive.
Leverage
IC Markets: IC Markets offers leverage of up to 1:500 for Forex trading for clients outside of Europe and Australia. For traders in the EU and Australia, leverage is capped at 1:30 due to regulatory restrictions. The high leverage option is particularly appealing to experienced traders who want to maximize their market exposure with smaller amounts of capital, though it also increases the potential risk of losses.
IG: IG offers leverage up to 1:200 for Forex trading for non-EU clients. For clients in the EU and Australia, leverage is limited to 1:30 due to regulatory requirements. IG’s leverage offerings are slightly lower than IC Markets’ for non-EU traders but are still competitive for retail traders. Leverage for other asset classes, such as commodities and indices, varies depending on the region and regulatory environment.
Verdict: IC Markets has the advantage when it comes to leverage, offering up to 1:500 for non-EU clients, compared to IG’s maximum leverage of 1:200. Traders seeking higher leverage to control larger positions with smaller capital will prefer IC Markets. For EU and Australian traders, both brokers are limited by the same regulatory restrictions.
Order Execution and Speed
IC Markets: IC Markets is known for its ultra-fast execution speeds, particularly on its cTrader platform, which is optimized for low-latency trading. The broker uses an ECN (Electronic Communication Network) model, providing traders with direct access to liquidity providers, resulting in minimal slippage and fast order execution. This makes IC Markets particularly appealing to scalpers, high-frequency traders, and professionals who require precise execution.
IG: IG offers fast order execution across its platforms, including its proprietary platform, MetaTrader 4 (MT4), and L2 Dealer for direct market access (DMA). While IG does not operate as an ECN broker, it offers fast execution for retail traders and provides DMA access for professional traders who require direct market execution. IG’s order execution speeds are reliable, though they may not match the ultra-low-latency infrastructure provided by IC Markets’ ECN model.
Verdict: IC Markets has the edge in terms of order execution and speed, particularly for scalpers and high-frequency traders who prioritize low-latency execution. IG’s execution is fast and reliable for retail traders, but traders who rely on speed and precision may prefer IC Markets for its ECN model and faster execution.
Customer Support and Education
IC Markets: IC Markets offers 24/7 customer support via live chat, phone, and email. The broker’s support team is responsive and knowledgeable, assisting traders with technical issues, account inquiries, and platform questions. IC Markets also provides a variety of educational resources, including webinars, trading guides, and video tutorials, which are valuable for both beginners and experienced traders.
IG: IG provides 24/5 customer support through live chat, phone, and email, along with an extensive help center. IG is known for its highly responsive customer support and offers a comprehensive range of educational resources. These include webinars, video tutorials, articles, and a dedicated IG Academy for traders of all experience levels. IG’s educational resources cover a wide range of topics, from beginner basics to advanced trading strategies, making it a valuable resource for those looking to improve their trading skills.
Verdict: Both IC Markets and IG provide excellent customer support, but IG has a slight edge in terms of educational resources with its IG Academy, which offers structured courses and extensive learning materials. IC Markets also provides solid educational content, but IG’s commitment to trader education, especially for beginners, makes it more appealing for those looking to learn and grow as traders.
Account Types and Features
IC Markets: IC Markets offers two main account types: the Standard account and the Raw Spread account. The Standard account is commission-free, with spreads starting from 1.0 pips, while the Raw Spread account offers spreads starting from 0.0 pips, with a small commission per trade. Both account types are available across MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, giving traders flexibility depending on their trading preferences. IC Markets also provides Islamic accounts for traders who require Sharia-compliant trading options, and demo accounts for practice trading.
IG: IG offers a range of account types, including standard CFD accounts, spread betting accounts (for UK traders), and professional accounts for experienced traders who meet certain criteria. IG also offers share dealing accounts, allowing traders to invest in actual shares, in addition to CFD and Forex trading. For professional traders, IG offers access to direct market execution through L2 Dealer, which provides more control over trade execution. IG also offers Islamic accounts and demo accounts.
Verdict: Both IC Markets and IG offer a variety of account types, but IC Markets’ Raw Spread account is particularly attractive to scalpers and traders looking for low-cost trading. IG, however, provides more variety with its share dealing accounts and spread betting options, which may appeal to traders looking for more diversified investment opportunities. Both brokers offer Islamic accounts and demo accounts, but traders focused on low spreads may prefer IC Markets, while those looking for a broader range of account types might favor IG.
Deposit and Withdrawal Methods
IC Markets: IC Markets supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, PayPal, Neteller, and Skrill. The broker does not charge any fees for deposits or withdrawals, and most transactions are processed within 24 hours. IC Markets also supports multiple base currencies, which minimizes currency conversion fees for international traders.
IG: IG offers a variety of deposit and withdrawal options, including bank transfers, credit/debit cards, and PayPal. IG does not charge fees for most deposits and withdrawals, but some fees may apply depending on the payment method or location. Most transactions are processed quickly, though bank transfers may take longer depending on the banking system.
Verdict: Both IC Markets and IG offer a good range of payment options and quick processing times for deposits and withdrawals. IC Markets has a slight edge for not charging any fees on transactions, while IG may impose some fees in certain cases. Overall, both brokers are suitable for international traders with flexible payment options.
Mobile Trading
IC Markets: IC Markets offers mobile trading through the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader mobile apps, available for both iOS and Android devices. These apps provide full functionality, including real-time market data, advanced charting tools, and one-click trading. The mobile apps are designed to offer the same features and user experience as the desktop versions, making it easy for traders to manage their positions on the go.
IG: IG provides a proprietary mobile app available on iOS and Android, which is user-friendly and packed with features. The app includes advanced charting tools, technical analysis, and the ability to execute trades quickly. IG’s mobile app also supports direct market access (DMA) for professional traders, making it one of the most versatile mobile trading apps on the market. Additionally, IG offers the MetaTrader 4 (MT4) mobile app for traders who prefer using MT4.
Verdict: Both IC Markets and IG offer excellent mobile trading experiences. IC Markets provides more platform flexibility with mobile apps for MT4, MT5, and cTrader, while IG’s proprietary mobile app is intuitive and provides advanced features like DMA trading. Traders who value platform variety may prefer IC Markets, while those looking for an easy-to-use mobile app with professional features may opt for IG.
Research and Market Analysis
IC Markets: IC Markets provides traders with a variety of research tools and market analysis, including daily market updates, technical analysis reports, and an economic calendar. The broker also partners with Trading Central, offering professional-grade analysis and trading signals. IC Markets’ research materials are available on its platform and website, catering to both beginner and experienced traders.
IG: IG excels in the area of research and market analysis, offering daily market commentary, trading ideas, and in-depth analysis across various asset classes. IG also provides access to Trading Central, giving traders professional insights and trading signals. In addition to technical analysis, IG offers educational webinars, video tutorials, and in-depth articles covering various aspects of trading. IG’s market research tools are considered among the best in the industry, particularly for traders who want comprehensive market insights.
Verdict: Both IC Markets and IG offer excellent research and market analysis tools, with partnerships with Trading Central providing high-quality insights. However, IG stands out due to its extensive research offerings, market commentary, and educational content. Traders seeking comprehensive market insights and ongoing learning may find IG’s resources more appealing, but IC Markets also provides solid research tools for those focused on technical analysis.
Conclusion
IC Markets vs IG: The Verdict
In the comparison of IC Markets vs IG, both brokers offer unique strengths that cater to different types of traders. IC Markets is particularly appealing for traders who prioritize fast execution, raw spreads, and platform variety. The broker’s ECN model, combined with platforms like MetaTrader 5 (MT5) and cTrader, makes it an excellent choice for scalpers, high-frequency traders, and professionals seeking low-cost trading.
On the other hand, IG offers a broader range of trading instruments, with access to over 17,000 markets, including stocks, options, and bonds. IG’s proprietary platform is intuitive and feature-rich, making it suitable for both beginner and advanced traders. Additionally, IG’s educational resources, market analysis, and global regulatory presence give it a distinct advantage, particularly for traders looking to diversify their trading across multiple asset classes and learn from extensive educational content.
Ultimately, IC Markets is the better choice for traders focused on low spreads, fast execution, and platform flexibility, while IG is ideal for traders seeking a wider range of instruments, advanced market research, and a user-friendly trading experience. The choice between these brokers will depend on your specific trading needs and priorities.
Published by:
Daniel Carter